This article mentions one of several metrics we offer regarding exchange deposit addresses. Please check this article for an introduction on deposit addresses and the complete list of metrics offered.
Deposit-related Transactions shows the total number of all incoming and outcoming transactions involving deposit addresses on a particular day.
As such, this metric accounts for both user-to-exchange transactions:
- from a personal wallet to a deposit address, and
- from a deposit address to the main exchange wallet.
Deposit-related Transactions is often valuable when used in conjunction with Exchange Inflow – another one of our metrics – which shows the total amount of coins moving to exchange wallets on a particular day.
So, for example, an increase in exchange inflow but a plateauing number of deposit-related transactions means that more coins are entering the exchanges, although the number of transactions to the exchanges stayed the same. In other words, the average deposit size has increased.
As another use-case of this metric, let’s take a look what Deposit-related Transactions can tell us about MKR’s popularity over time:
The Transaction graph clearly shows a steady increase in the total number of deposit-related transactions – especially in the past few weeks. In other words, the speculative interest in Maker seems to be blooming.
It’s also noteworthy that the Transaction Number metric really started breaking out in Autumn, coinciding with Maker’s surge in popularity.